PROBLEM I-5A (Continued)
(c) Accounts Receivable Subsidiary Ledger
Edwards Co.
Date
Explanation
Ref.
Debit
Credit
Balance
July 6
20
S1
CR1
6,600
6,600
6,600
0
M. Putzi
Date
Explanation
Ref.
Debit
Credit
Balance
July 21
S1
5,000
5,000
L. Nunez
Date
Explanation
Ref.
Debit
Credit
Balance
July 10
16
S1
CR1
4,900
4,900
4,900
0
Carmoni
Date
Explanation
Ref.
Debit
Credit
Balance
July 8
13
S1
CR1
3,600
3,600
3,600
0
Accounts Payable Subsidiary Ledger
D. Sampson
Date
Explanation
Ref.
Debit
Credit
Balance
July 13
21
P1
CP1
15,300
15,300
15,300
0
K. Farmer
Date
Explanation
Ref.
Debit
Credit
Balance
July 5
10
P1
CP1
8,100
8,100
8,100
0
PROBLEM I-5A (Continued)
G. Young
Date
Explanation
Ref.
Debit
Credit
Balance
July 20
P1
7,900
7,900
T. Donley
Date
Explanation
Ref.
Debit
Credit
Balance
July 4
15
P1
CP1
6,500
6,500
6,500
0
M. Huang
Date
Explanation
Ref.
Debit
Credit
Balance
July 11
P1
5,920
5,920
(e) RAMIREZ CO.
Trial Balance
July 31, 2015
Debit
Credit
Cash ……………………………………………………….
Accounts Receivable ……………………………….
Inventory ………………………………………………..
Supplies ………………………………………………….
Prepaid Rent …………………………………………..
Accounts Payable ……………………………………
Common Stock ……………………………………….
Cash Dividends ……………………………………….
Sales Revenue ………………………………………..
Sales Discounts ………………………………………
Cost of Goods Sold …………………………………
$ 62,999
5,000
25,876
600
6,000
2,500
85
17,160
$120,220
$ 13,820
80,000
26,400
$120,220
PROBLEM I-5A (Continued)
(f) Accounts receivable balance …………………………………………. $ 5,000
Subsidiary accounts balance
Accounts payable balance …………………………………………….. $13,820
Subsidiary accounts balance
(g)
General Journal G1
Date
Accounts and Explanations
Ref.
Debit
Credit
July 31
Supplies Expense ……………………….
Supplies ……………………………..
631
127
430
430
31
Rent Expense ……………………………..
Prepaid Rent ……………………….
729
131
500
500
PROBLEM I-5A (Continued)
(h) RAMIREZ CO.
Adjusted Trial Balance
July 31, 2015
Debit
Credit
Cash ……………………………………………………….
Accounts Receivable ……………………………….
Inventory …………………………………………………
Supplies ………………………………………………….
Prepaid Rent ……………………………………………
Accounts Payable ……………………………………
Common Stock ………………………………………..
Cash Dividends ……………………………………….
Sales Revenue …………………………………………
Sales Discounts ………………………………………
Cost of Goods Sold ………………………………….
Supplies Expense ……………………………………
Rent Expense ………………………………………….
$ 62,999
5,000
25,876
170
5,500
2,500
85
17,160
430
500
$120,220
$ 13,820
80,000
26,400
$120,220
PROBLEM I-6A
(b) & (c)
Cash Receipts Journal CR1
Date
Account Credited
Ref.
Cash
Dr.
Sales
Discounts
Dr.
Accounts
Receivable
Cr.
Sales
Revenue
Cr.
Other
Accounts
Cr.
Cost of Goods Sold
Dr.
Inventory
Cr.
Jan. 7
13
23
29
E. Divine
T. Raynor
Notes Receivable
115
3,500
4,508
9,100
37,000
54,108
(101)
92
0
92
(414)
3,500
4,600
8,100
(112)
9,100
9,100
(401)
37,000
37,000
(X)
5,460
5,460
(505)(120)
Cash Payments Journal CP1
Date
Account Debited
Ref.
Other
Accounts
Dr.
Accounts
Payable
Dr.
Inventory
Cr.
Cash
Cr.
Jan. 11
12
15
18
27
Inventory
Rent Expense
A. Pele
Salaries and Wages
Expense
P. Weng
120
729
726
300
1,000
4,500
5,800
(X)
15,000
950
15,950
(201)
150
150
(120)
300
1,000
14,850
4,500
950
21,600
(101)
Sales Journal S1
Date
Account
Debited
Ref.
Accounts Receivable Dr.
Sales Revenue Cr.
Cost of Goods Sold Dr.
Inventory Cr.
Jan. 3
24
T. Raynor
J. Deitz
4,600
7,400
12,000
(112)(401)
2,760
4,440
7,200
(505)(120)
PROBLEM I-6A (Continued)
Purchases Journal P1
Date
Account Credited
Ref.
Inventory Dr.
Accounts Payable Cr.
Jan. 5
17
P. Weng
E. Nanco
2,800
1,600
4,400
(120)(201)
General Journal G1
Date
Accounts and Explanations
Ref.
Debit
Credit
Jan. 14
Sales Returns and Allowances …….
Accounts Receivable—
M. Cedeno ……………………….
Inventory ($300 X .60) ………………….
Cost of Goods Sold ……………..
/412
/112
120
/505
300
180
300
180
20
Accounts Payable—L. Gold …………
Notes Payable ……………………..
/201
/200
18,000
18,000
30
Accounts Payable—E. Nanco ………
Inventory …………………………….
/201
120
300
300
(a) & (c)
General Ledger
Cash No. 101
Date
Explanation
Ref.
Debit
Credit
Balance
Jan. 1
31
31
Balance
CR1
CP1
54,108
21,600
41,500
95,608
74,008
PROBLEM I-6A (Continued)
Accounts Receivable No. 112
Date
Explanation
Ref.
Debit
Credit
Balance
Jan. 1
14
31
31
Balance
G1
CR1
S1
12,000
300
8,100
15,000
14,700
6,600
18,600
Notes Receivable No. 115
Date
Explanation
Ref.
Debit
Credit
Balance
Jan. 1
29
Balance
CR1
37,000
45,000
8,000
Inventory No. 120
Date
Explanation
Ref.
Debit
Credit
Balance
Jan. 1
11
14
30
31
31
31
31
Balance
CP1
G1
G1
P1
CP1
CR1
S1
300
180
4,400
300
150
5,460
7,200
20,000
20,300
20,480
20,180
24,580
24,430
18,970
11,770
Equipment No. 157
Date
Explanation
Ref.
Debit
Credit
Balance
Jan. 1
Balance
7,500
Accumulated Depreciation—Equipment No. 158
Date
Explanation
Ref.
Debit
Credit
Balance
Jan. 1
Balance
1,500
PROBLEM I-6A (Continued)
Notes Payable No. 200
Date
Explanation
Ref.
Debit
Credit
Balance
Jan. 20
G1
18,000
18,000
Accounts Payable No. 201
Date
Explanation
Ref.
Debit
Credit
Balance
Jan. 1
20
30
31
31
Balance
G1
G1
P1
CP1
18,000
300
15,950
4,400
43,000
25,000
24,700
29,100
13,150
Common Stock No. 311
Date
Explanation
Ref.
Debit
Credit
Balance
Jan. 1
Balance
84,500
Sales Revenue No. 401
Date
Explanation
Ref.
Debit
Credit
Balance
Jan. 31
31
CR1
S1
9,100
12,000
9,100
21,100
Sales Returns and Allowances No. 412
Date
Explanation
Ref.
Debit
Credit
Balance
Jan. 14
G1
300
300
Sales Discounts No. 414
Date
Explanation
Ref.
Debit
Credit
Balance
Jan. 31
CR1
92
92
PROBLEM I-6A (Continued)
Cost of Goods Sold No. 505
Date
Explanation
Ref.
Debit
Credit
Balance
Jan. 31
31
14
CR1
S1
G1
5,460
7,200
180
5,460
12,660
12,480
Salaries and Wages Expense No. 726
Date
Explanation
Ref.
Debit
Credit
Balance
Jan. 18
CP1
4,500
4,500
Rent Expense No. 729
Date
Explanation
Ref.
Debit
Credit
Balance
Jan. 12
CP1
1,000
1,000
Accounts Receivable Subsidiary Ledger
M. Cedeno
Date
Explanation
Ref.
Debit
Credit
Balance
Jan. 1
14
Balance
G1
300
2,500
2,200
J. Deitz
Date
Explanation
Ref.
Debit
Credit
Balance
Jan. 1
24
Balance
S1
7,400
7,500
14,900
PROBLEM I-6A (Continued)
E. Divine
Date
Explanation
Ref.
Debit
Credit
Balance
Jan. 1
7
Balance
CR1
3,500
5,000
1,500
T. Raynor
Date
Explanation
Ref.
Debit
Credit
Balance
Jan. 3
13
S1
CR1
4,600
4,600
4,600
0
Accounts Payable Subsidiary Ledger
E. Nanco
Date
Explanation
Ref.
Debit
Credit
Balance
Jan. 17
30
P1
G1
300
1,600
1,600
1,300
B. Forrest
Date
Explanation
Ref.
Debit
Credit
Balance
Jan. 1
Balance
10,000
L. Gold
Date
Explanation
Ref.
Debit
Credit
Balance
Jan. 1
20
Balance
G1
18,000
18,000
0
A. Pele
Date
Explanation
Ref.
Debit
Credit
Balance
Jan. 1
15
Balance
CP1
15,000
15,000
0